Revised indicative Issue Margin range for Green Bond Offer

On Monday, 6 March 2023, Meridian Energy Limited (Meridian) announced it is offering up to $150 million (with the ability to accept oversubscriptions of up to an additional $50 million at Meridian's discretion) of 5.5 year unsecured, unsubordinated, fixed rate green bonds (Green Bonds) to institutional and New Zealand retail investors. Subsequent to that announcement, Meridian has today revised the indicative Issue Margin range to 1.05% to 1.10% per annum over the Base Rate. The minimum Interest Rate remains unchanged at 5.70% per annum. The Issue Margin and Interest Rate for the Green Bonds will be set following a bookbuild process, which is expected to be completed on Thursday, 9 March 2023, and announced via NZX shortly thereafter. There is no public pool for the offer, with all of the Green Bonds to be reserved for clients of the Joint Lead Managers, other primary market participants and institutional investors. Details of the offer are contained in the indicative terms sheet. The indicative terms sheet is available at www.meridianenergy.co.nz/about-us/investors/reports/retail-bond-documents or by contacting one of the Joint Lead Managers (listed below) or your usual financial adviser. Joint Lead Managers: ANZ Bank New Zealand Limited: 0800 269 476 Bank of New Zealand: 0800 284 017 Craigs Investment Partners Limited: 0800 226 263 Forsyth Barr Limited: 0800 367 227 End CA:00408030 For:MEL Type:OFFER Time:2023-03-08 13:00:07